Whole Loan Mortgage

Investment Procedure
Our investment procedure is simple, first you complete our investor qualification questionnaire either on line or you can download the form and fax it back to us. This for gives us the information necessary to determine if whole loan investments are appropriate for you and what your investment preferences are. This will help us identify whole loan investment for you that meet your preferences. We provide you with an outline of our loan programs and if you are interested in moving forward we will discuss how much you are interested in investing and get a commitment from you to purchase a note when one becomes available.

FIRSTBANC has loan opportunities come up all the time but often we have a waiting list of investors for whole loans. When opportunities come up that meet your investment criteria we will contact you and make them available to you. Then, once you’ve selected a loan, we will fax or email the Executive Summary to that contains; information on the borrower, property address and description, property value, Loan-to Value, loan amount and details about the rate of returns and loan terms. We will also give you an explanation of why this borrower is seeking a privately funded loan. If you are in the Washington Metropolitan Area you are welcome to visit a particular property to see it for yourself before you invest, so that you can make the most informed decision possible.

You let us know that you are ready to invest and we arrange the Whole Loan investment for you to purchase. We handle everything from there getting; the loan closed, getting the loan documents recorded, forwarding your closing package, collecting the payments, forwarding you your interest and handling any problems that come up with the loan. All of this at no expense to you, the borrow pays for everything.

Once you have decided and committed to a certain opportunity and size of investment we will fax or email you a Closing Summary detailing the final loan terms, the number of investors that will be participating in the investment (if applicable), the date and time of settlement and the appropriate wiring instructions with the time and date when the wire needs to be received With this information you will receive Firstbanc’s Whole Loan Servicing Agreement to be executed and returned at least 48 hours prior to closing.